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RESOLUTION NO. 98- 03 A RESOLUTION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING IN CONCEPT THE TERMS TO BE INCLUDED IN A CONTRACT FOR THE SALE AND PURCHASE OF VACANT PROPERTY DESCRIBED AS BLOCK 8, LOTS 1, 2, 3, 7, 8, 9,10,11, SUNNY ISLES SHORES, SEC. B, PB 65-47, LOCATED AT NORTH BAY ROAD AND 178TH DRIVE, ON THE TERMS AND CONDITIONS PROVIDED IN THE LETTERS OF INTENT SET FORTH AS COMPOSITE EXHIBIT "A"; AUTHORIZING THE CITY ATTORNEY TO DRAFT SUCH A CONTRACT; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Sunny Isles Beach which became incorporated on June 16, 1997 has no park land included within its corporate boundaries; and WHEREAS, the Mayor and the Commission have expressed the desire to create more than one park for the citizens of the City of Sunny Isles Beach as a matter of "quality of life"; WHEREAS, the City Manager, the City Attorney and the Mayor have reviewed and analyzed the number of residential properties and have concluded the contract proposed to the City Commission represents the most favorable negotiation both in terms of location and price for the City of Sunny Isles Beach; and WHEREAS, the proposed purchase price of $1,435,000 is supported by an independent appraisal; NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. The purchase of the vacant property described as Block 8, Lots 1, 2, 3, 7, 8, 9,10, 11, Sunny Isles Shores, Sec. B, PB 65-47, located at North Bay Road and 178th Drive, on the terms provided in the letters of intent set forth as composite Exhibit "A" is hereby approved in concept by the City of Sunny Isles Beach. Section 2. The City Attorney is hereby directed to draft for Commission approval such a contract and any and all documents to effectuate same on behalf of the City. Res. on contract for purchase of North Bay Rd.